Recession

Please complete the following: Provide all links to info you use What are characteristics of this phase of the business cycle?

The Characteristics of recession would be that a lot of people are unemployed. Banks are starting to fail because of the recession. Many People are losing their houses. Businesses are starting to close down. Families can’t have all the things they need to live. People cant pay their mortgage on their houses plus its hard for them to sell them too.

Provide at least 5 pictures that relate to this phase. Research an advertisement from a company that is appealing to the way the shape of the economy is changing the way we live. Provide the link. Explain the collapse of the housing market and why it was one of the biggest factors in leading to this current recession. Could this have been avoided? What steps can we take personally to help guide us into recovery? One of the main causes for the collapse of the housing market is that banks are lending 5 to ten times the income of the people. Yes, it could have been stpped if the banks payed more attention to what they were doing they wouldn't not have started given all that money they didn't have. People should have took money they didn't have either. The steps we can start taking are not giving away money we don't have, save money we need to pay back that we owe. [] Pictures of the phases of the business cycle.





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